ANSS closes above its opening price after recovering from early selling pressure


ANSYS (ANSS) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
ANSS closes above its opening price after recovering from early selling pressure
ANSS closes lower for the 2nd day in a row
ANSS breaks below previous session low
ANSS falls to lowest close since August 1st
ANSS ends the day indecisive
TQ Sentiment
Report Sentiment: 33% Bullish
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, ANSS ended the week -1.0% lower at 171.53 after losing $0.48 (-0.28%) today. Today's closing price of 171.53 marks the lowest close since August 1st. Trading up to $1.10 lower after the open, ANSYS managed to reverse during the session as bulls took control ending the day above its opening price. Closing below Thursday's low at 171.69, the share confirms its breakout through the previous session's low having traded $1.63 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for ANSS
Volatility

Friday's trading range was $1.89 (1.1%), that's below last trading month's daily average range of $3.45. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.

Support/Resistance

Prices are trading close to a key support level at 171.23.

Trend

Though the market is currently in a short-term down trend, this might just be a correction, as the medium and long term trends are both positive.

Order Flow

Further selling could move prices lower should the market test July's close-by low at 167.50.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for ANSYS
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Close to Swing High TQ Pro Members Only
High close to previous High TQ Pro Members Only
Bearish Bounce off SMA 20 TQ Pro Members Only
High close to previous two Highs TQ Pro Members Only
More market conditions identified for TQ Pro members...
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